National Westminster Bank USA v. Weksel
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Murphy, P. J.
In 1983, plaintiff National Westminster Bank extended Information Displays Incorporated (IDI) a $5,000,000 line of credit and, thereafter, made it a series of loans totaling $3,000,000. In May 1984, IDI, apparently then in default upon the loans, filed a petition pursuant to Bankruptcy Code (11 USC) chapter 11. The present action was commenced by plaintiff bank in February 1985 against IDI’s officers (the individual defendants), IDI’s accountants, Ernst & Whinney, and IDI’s general and SEC counsel, the law firm of Marks & Kuperschmid, P. C. In essence, the…
2Cases cited8 opinions
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